Musings.

Musings

The world, the economy, the markets, and our lives are dynamic. Events can have a large or small impact on us. They can create excitement, cause fears, raise questions, and spark insight.

Listed here are our most spontaneous, timely, and succinct comments on wealth, life, and more.





  • October 30, 2012 - Weather Socks Stocks

    US stock markets remain closed Tuesday.  The first two-day weather related stoppage to trading since 1888. (WSJ)



  • October 27, 2012 - SEC considers fractional pricing

    The SEC is weighing returning to fractional share pricing instead of decimal pricing, the system that has prevailed for 11 years. on.wsj.com/P9WIMO0



  • October 27, 2012 - SEC considers fractional pricing

    To justify returning to fractional pricing, the SEC cites declining volume of IPO business in the US during 2000s compared to 1990s.



  • October 27, 2012 - SEC considers fractional pricing

    1990s IPO volume was unusually high while the internet bubble inflated, investors' risk tolerance rose, and business forecasts were strong. 2000s IPO volume fell after the internet bubble burst.



  • October 27, 2012 - SEC considers fractional pricing

    2000s IPO volume was significantly constrained by Sarbanes-Oxley, enacted in 2002 after the Enron debacle, which forced compliance costs upon public companies.



  • October 26, 2012 - Checking Romney Tax Plan 3/3

    Mitt and Ann Romney have published their 2010 tax return.  The following table compares the Romney return to the "average" taxpayer based on latest IRS compiled statistics.   Figures presented as % of AGI (average data shown parenthetically):

    100.0% adjusted gross income (100.0%)
        0.0% standard deductions (9.8%)
      20.9% itemized deductions (15.8%)
        0.0% exemptions (13.5%)
      79.1% taxable income (66.7%)
      14.3% tax plus AMT (12.8%)
        0.6% less credits (0.9%)
        0.2% plus other taxes (0.7%)
      13.9% total taxes (12.7%)

    Conclusion: Mitt Romney paid a 10% higher tax rate than the average taxpayer.

    (MittRomney)



  • October 25, 2012 - Checking Romney Tax Plan 2/3

    2009 is the latest year that the IRS has compiled statistics for individual income taxes.  Pages 15 and 16 of the IRS report show (as % of AGI):
       140 returns filed
    100.0% adjusted gross income (line 37)
        9.8% standard deductions (line 40)
      15.8% itemized deductions (line 40)
      13.5% exemptions (line 42)
      66.7% taxable income (line 43)
      12.8% tax plus AMT (line 46)
        0.9% less credits (line 54)
        0.7% plus other taxes (lines 56--59)
      12.7% total taxes (line 60)

    (IRS)



  • October 24, 2012 - Checking Romney Tax Plan 1/3

    2009 is the latest year that the IRS has compiled statistics for individual income taxes.  Pages 15 and 16 of the IRS report show (in billions):
     $7626 adjusted gross income (line 37)
    $748 standard deductions (line 40)
    $1203 itemized deductions (line 40)
    $1029 exemptions (line 42)
    $5088 taxable income (line 43)
    $976 tax plus AMT (line 46)
    $65 less credits (line 54)
    $54 plus other taxes (lines 56--59)
    $965 total taxes (line 60)

    (IRS)



  • October 23, 2012 - Deleting Tape Recorders

    According the the Ohio Society of CPAs, LinkedIn surveyed what business items won't be around in 2017.  79% responded tape recorders.  A tablet PC was favored by 55% as a must have item. (OSCPA)



  • October 01, 2012 - Trouble is spelled, "QE3"

    AdvisorOne tells 5 things we should know about Ben Bernanke's latest bond buying binge. (AdvisorOne)